James Breyer of Accel Partners would not stand for re-election to the board of social networking giant Facebook.

Bafin, the German financial markets watchdog, clears German Bank directors of any wrongdoing. Bafin, the German financial market regulator, have not come up with any proof that the directors of the German Bank are behind the manipulation of the standard interest rates, according to a top official of Bafin that the Wall Street Journal Deutschland had spoken with over the weekend.

According to an anonymous source relayed to an Italian newspaper reported by Reuters, Telecom Italia would retain its stock on the fixed line network to prevent any takeover by Hutchison Whampoa.

Judge Ugo Bellini finds no evidence of fraud nor urgency to deem the issuance of a seizure order. An Italian magistrate has thrown out a request to issue an order to seize nearly Eur1.

The European Commission receives subsidy complaint against China for illegal subsidies on solar glass sold in the EU market.

In a move to help local Saudis, unused residential and military lands may be confiscated for that purpose.

Telenor ASA purchases HTO's Bulgarian mobile unit. The biggest telecommunications operator in the Nordic region Telenor ASA has entered into an agreement to purchase Hellenic Telecommunications Organization SA's Bulgarian mobile subsidirary for Eur717 million or US$934 million.

According to Morningstar's analysis, Vanguard Global REIT offers stable returns on investment.

BFA earmarks Eur275 million shares for Bankia. Reuters reported today that BFA, the Spanish state owned banking group, has committed that it will spend up to Eur275 million or US$358 million on the acquisition of new shares to be released by subsidiary lender Bankia by May of this year.

Zurich Insurance Chairman Josef Ackermann says that the insurer is withdrawing from biddings as the focus is on profit growth and not volume expansion.